Siemens Wins More Than €2 Billion Train Deal for 113 Battery-Powered Trains
Key Facts
Lower Saxony’s transport authority and the Greater Braunschweig Area Association awarded Siemens Mobility a contract worth more than €2 billion to supply 113 battery-powered electric trains, the company said on October 15, 2026. The deal includes three-car Mireo Plus B trains, as well as maintenance and service facilities. The order comprises 83 trains for Lower Saxony’s transport authority and 30 for the Greater Braunschweig Area Association. Siemens Mobility Chief Executive Michael Peter said the order was "the largest worldwide for battery-powered trains." He added that sustainable mobility had become economically viable and scalable, pointing to the company’s view that emissions cuts can be combined with expanded deployment of the trains.
The value of the agreement goes beyond train deliveries: the vehicles alone are worth about €1.1 billion, while the total also includes maintenance services and facilities. Maintenance and other services will run for 30 years and be provided through two new service centers. This arrangement links delivery of the fleet with its services over a long operating life and could provide up to 100 jobs at the service centers. The battery-powered trains operate on non-electrified sections after charging while running under overhead lines. They can reach speeds of 160 kilometers per hour, according to Siemens specifications.
The contract includes an option to buy up to 132 additional trains, while passenger service is expected to begin at the end of 2031. The option gives the two buyers scope to expand the order beyond the 113 trains currently contracted if they decide to exercise it. The deal comes as Siemens reported comparable orders rising 18% to €24.1 billion in the second quarter of fiscal 2026, compared with the same period a year earlier. Comparable revenue rose 6% to €19.8 billion in the quarter. On May 13, 2026, the company announced a new share buyback program of up to €6 billion, after completing a previous program of the same size on June 15 that began on February 12, 2024.
Alongside the train contract, Siemens showcased artificial intelligence and digital twin applications at its electronics factory in Erlangen, where uses include faster production setup and adaptive production planning. The company said virtual preparation for printed circuit board production could cut time to market by up to 40%. The preparation uses AI-generated images from digital twins to train vision systems before physical models are available. Siemens said more than 100 AI algorithms are already in use at the factory across production, logistics, quality inspection and maintenance. The company also plans to expand the site through 2030 with an investment of €500 million, and said the factory achieves annual productivity growth of 7% and receives about 3,000 customer visits each year.
Siemens American depositary receipts, listed under the ticker SIEGY, closed at $143.44 on October 23, 2026, according to EL7 data. They closed at $143.23 on October 22, after $149.21 on October 21. That places the stock’s movement over the three days in the trading context surrounding the deal announcement, without by itself establishing the contract’s effect on the price. The EL7 data provided do not include verified prices for Nvidia, TSM or AMD on the stated date.